Credit scores are funny little beasts, and it’s important to stay on top of your score. Knowing what your score is and keeping an eye on it for changes will give you a lot more ownership over the whole credit thing in general. And a credit score is essentially a numerical representation of your credit report, so knowing your score and watching it for changes makes it easy to see and understand over time how your credit is impacted by decisions you make. Open a new card? Your credit will drop by 5-10 points. A couple months later, back to normal.
So for today’s post, I’m going to run down some of my favorite options for staying on top of your credit score, what to watch out for and what to do if you notice a mistake. It’s important to note that checking your score in this way is considered a soft pull and will not impact your credit. This is unlike a hard pull that lenders perform, which will show up on your credit report and drop your score slightly.
All good? Then let’s go!
You’ve probably seen a commercial for this website at some point – it really started to gain steam a couple years ago and now you can even file your taxes through them. Credit Karma pulls your reports using the last couple digits of your social security card and runs them through a credit scoring tool. Based on the information in your reports, like recent accounts or missed payments, it spits out a number. This is what mine looks like….